Covestro shuffles management positions

Michelle Jou head of Polycarbonates

Michelle Jou took over as head of Covestro’s Polycarbonates Segment effective January 1, 2016. She is the first woman to hold this position and succeeds Dr. Markus Steilemann, who as of this same date, became head of the Polyurethanes Segment. Since September 1, 2015, he is also member of the Board of Management and responsible for Innovation.

Michelle Jou has over 20 years of professional experience in the chemical industry in Asia, where she served in a variety of positions in sales, marketing and supply chain management. Before joining Bayer in 2003, she worked approximately ten years for a leading French petrochemicals company in Hong Kong and Shanghai.

At Bayer MaterialScience, she performed a number of different managerial duties in Shanghai, initially with the company’s central departments. Jou then joined the Polycarbonates Business Unit, where in 2012 she was named head of Commercial Operations in the Asia region.

A native of Taiwan, Jou holds a bachelor’s degree from Fu-Jen University there. She also has a master’s degree from the EMLYON Business School in France.

Bayer MaterialScience has operated under the name of Covestro since September 1, 2015. The company had already relocated the headquarters of its global polycarbonate activities to Shanghai in 2011, as the primary markets for thermoplastics are located in Asia.About Covestro:With 2014 sales of EUR 11.8 billion, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, electrical and electronics, construction and sports and leisure industries. Covestro, formerly Bayer MaterialScience, has 30 production sites worldwide and employs approximately 15,700 people (calculated as full-time equivalents) at the end of September 2015.

Forward-Looking StatementsThis release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s and Bayer’s public reports which are available on the Covestro website at www.covestro.com as well as on the Bayer website at www.bayer.com. Covestro and Bayer assume no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.